Northern Right Capital Management L.P. Grows Stake in Turning Point Brands, Inc. $TPB

Key Points

• Northern Right Capital Management L.P. increased its stake in Turning Point Brands by 63.9%, now holding 220,178 shares valued at approximately $13.1 million.
• Turning Point Brands reported $0.98 EPS for the last quarter, exceeding expectations and demonstrating a 25.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.075 per share, representing a 0.3% annualized yield, with the payment date set for October 10th.

Northern Right Capital Management L.P. increased its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 63.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 220,178 shares of the company's stock after acquiring an additional 85,824 shares during the period. Turning Point Brands comprises approximately 5.3% of Northern Right Capital Management L.P.'s investment portfolio, making the stock its 8th largest holding. Northern Right Capital Management L.P. owned 1.23% of Turning Point Brands worth $13,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. increased its stake in shares of Turning Point Brands by 1.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company's stock worth $14,646,000 after purchasing an additional 2,667 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Turning Point Brands by 21.2% during the 4th quarter. Nuveen Asset Management LLC now owns 189,083 shares of the company's stock valued at $11,364,000 after acquiring an additional 33,080 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Turning Point Brands by 7.9% during the 4th quarter. Northern Trust Corp now owns 160,386 shares of the company's stock valued at $9,639,000 after acquiring an additional 11,808 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Turning Point Brands by 122.3% during the 1st quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock worth $7,240,000 after buying an additional 67,005 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Turning Point Brands by 6.6% during the 4th quarter. Two Sigma Investments LP now owns 108,927 shares of the company's stock worth $6,547,000 after buying an additional 6,726 shares during the period. Institutional investors own 96.12% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Oppenheimer boosted their price objective on Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC started coverage on Turning Point Brands in a report on Friday, August 1st. They set a "hold" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $78.83.

Insider Activity

In other Turning Point Brands news, CEO Graham Purdy sold 21,400 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $74.89, for a total transaction of $1,602,646.00. Following the sale, the chief executive officer owned 227,466 shares in the company, valued at $17,034,928.74. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence Wexler sold 25,000 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the completion of the transaction, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. The trade was a 7.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,300 shares of company stock valued at $8,291,282. 6.60% of the stock is currently owned by corporate insiders.

Turning Point Brands Stock Performance

TPB stock opened at $99.39 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of 41.58 and a beta of 0.66. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average of $84.35 and a 200-day moving average of $72.21. Turning Point Brands, Inc. has a 12-month low of $38.08 and a 12-month high of $102.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The company had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. During the same period in the prior year, the company posted $0.68 earnings per share. Turning Point Brands's quarterly revenue was up 25.1% on a year-over-year basis. As a group, sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 19th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, September 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. Turning Point Brands's dividend payout ratio is currently 12.55%.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

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